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xav23kris
Member since: January 2010
Total Contributions: 1
Most Popular Contribution
What can I do to raise my credit score?
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(1 Total Contributions)What can I do to raise my credit score?
It depends on your situation and what is currently on your credit report. Unfortunately the answer I usually get is to pay your bills on time and to simply wait.
Here are some specific items to help:
1. If you have any collection accounts that are active, try to pay them off.
2. If you have numerous credit cards, you may want to pay the balances down. Having your balances beneath 50% of the credit limit is really important. I opened a new $300 credit card and charged it up to $300 and my credit score instantly dropped 25 - 30 points because I was over-utilizing my credit limit.
3. Even if you didn't pay on time in the past, make it a priority to pay everything on time moving forward. Many places will require at least 1 year of positive (if not perfect) credit history.
4. Give it time. Bad things start to fall off or have less impact after a couple years; and the worst of things will eventually come off after 7 years.
5. Dispute inaccuracies in your credit report. Sometimes things are listed that really do not belong and it's your right to dispute them. If they are truly inaccurate, the credit bureau is required by law to remove them. Be patient with this though. I've found it takes them months to resolve disputes. They aren't in a hurry to help.
Response posted 1 year ago
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It depends on your situation and what is currently on your credit report. Unfortunately the answer I usually get is to pay your bills on time and to simply wait.
Here are some specific items to help:
1. If you have any collection accounts that are active, try to pay them off.
2. If you have numerous credit cards, you may want to pay the balances down. Having your balances beneath 50% of the credit limit is really important. I opened a new $300 credit card and charged it up to $300 and my credit score instantly dropped 25 - 30 points because I was over-utilizing my credit limit.
3. Even if you didn't pay on time in the past, make it a priority to pay everything on time moving forward. Many places will require at least 1 year of positive (if not perfect) credit history.
4. Give it time. Bad things start to fall off or have less impact after a couple years; and the worst of things will eventually come off after 7 years.
5. Dispute inaccuracies in your credit report. Sometimes things are listed that really do not belong and it's your right to dispute them. If they are truly inaccurate, the credit bureau is required by law to remove them. Be patient with this though. I've found it takes them months to resolve disputes. They aren't in a hurry to help.
Response posted 1 year ago